Circle Stock Slides Despite $400M Tazapay Acquisition Announcement

Circle's stock price declined by 5.10% on September 8 to $96.84, down from the previous close of $102.05. The stock traded between $96.44 and $100.80 with a volume of 8.2 million shares versus an average of 13.8 million.

The decline came despite Circle's announcement that it had signed a definitive agreement to acquire Tazapay, a Singapore-based cross-border B2B payments infrastructure platform supporting more than $25 billion in annualized payment volume.

The acquisition is valued at $400 million in Circle Class A common stock and is intended to expand the company's global payment capabilities and support adoption of USDC. The deal is expected to close in 2027, subject to customary conditions and regulatory approvals.